In Brief: Biomira/Neoprobe Corp.
This article was originally published in The Gray Sheet
Executive Summary
Biomira/Neoprobe Corp.: Firms ink agreement under which Neoprobe gains exclusive worldwide rights to use Biomira's radiolabeled urine monoclonal antibody Mab-170 in its RIGS hand-held, gamma-detecting probe technology "for surgical detection of breast cancer." Neoprobe plans to commence Phase I trials with the MAb-170/RIGS device with up to 45 women undergoing breast-conserving surgery. In return, Biomira receives an upfront fee from Neoprobe, as well as milestone payments and royalties "upon commercialization of a RIGS product using MAb-170." Under the deal, Neoprobe also obtains rights to: the MAb-170/RIGS technology for other clinical indications; any enhancements to the MAb-170 antibody; and an option to license another Biomira antibody, MAb-174...